Vascular Access Device Market Size & Share, by Type (Peripheral Intravenous Catheter, Peripherally Inserted Central Catheter, Midline, Haemodialysis tunneled cuffed Central Venous Catheter (Htc-CVC }); Application (Administration of Drugs, Administration of Fluid, Transfusion of Blood Products, Diagnostics, Testing); End-user (Hospitals, Clinics, Ambulatory Care Centers) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4854
  • Published Date: Apr 28, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Vascular Access Device Market size is estimated to reach USD 20 Billion by the end of 2035, growing at a CAGR of 10.10% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of vascular access device was over USD 6 Billion.The growth of the market can be attributed to the growing burden of diseases worldwide as well as the rising number of hospital admissions together with the augmenting percentage of surgeries that require repeated and long-term access to the bloodstream for frequent or regular administration of drugs. For instance, it was observed that a staggering 310 million major surgeries are performed worldwide annually.

In addition to these, factors that are believed to fuel the vascular access device market  growth of irritable bowel syndrome drugs include the increasing number of approvals, along with the rise in clinical trials on the available technologies confirming the safety and cost-efficiency of vascular access devices. For instance, in May 2022, Teleflex Incorporated, a leading global provider of medical technologies, announced the receipt of Health Canada approval for the MANTA Vascular Closure Device, which was the first commercially available biomechanical vascular closure device designed specifically for large bore femoral arterial access site closure. Additionally, the growing number of collaborations, acquisitions, and soaring investments is predicted to present the potential for market expansion over the projected period.


Vascular Access Device Market
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Vascular Access Device Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising Burden of Diseases – The growing concern about the changing lifestyle as well as the increasing burden of various chronic diseases worldwide which requires surgical procedures such as chemotherapy, cardiovascular interventions, neurovascular interventions, and others is expected to raise the demand for vascular access devices over the forecast period. Further, the increasing number of hospital admissions is also anticipated to boost the market growth. As per a study, almost 90% of hospital inpatients require IV therapy when hospitalized.
  • Increasing Ubiquity of Chronic Kidney Disease (CKD) & Rising Number of Patients on Hemodialysis – Vascular access is needed for patients undergoing the procedures such as dialysis. Hence, with the increasing number of patients suffering from chronic kidney disease (CKD) and many of them undergoing dialysis, the vascular access device market is expected to grow further. For instance, the prevalence of CKD was estimated to be ~13% in 2019, whereas patients with end-stage kidney disease (ESKD) in need of renal replacement therapy worldwide were estimated to be between ~4.9 and ~7 million. Moreover, it is observed that around 600,000 Americans undergo dialysis every year.
  • Growing Geriatric Population – The elderly population is one of the most vulnerable patient groups who undergo vascular access for the administration of drugs and fluids. Thus, the rising geriatric population in the world is considered to be a primary factor for market growth. United Nations Department of Economic and Social Affairs, the World Population Ageing 2020 report revealed that in the year 2020, worldwide there were ~727 million people aged 65 years or above.
  • Widening Scope of Vascular Screening – The use of vascular screening in the medical field is rapidly rising as it is one of the only effective and noninvasive ways of gauging risk levels for several conditions it investigates and has the ability to detect health issues that are not yet obvious to the patient. For instance, as per recommendations, a patient with a risk for vascular disease or a personal or family history of cardiac disease needs to get a vascular screening done every 3 to 5 years. This, as a result, is expected to boost the market growth.

Challenges

  • Possibility of vascular access failure - All types of vascular access may cause problems that require further treatment or surgery, the most common problems include low blood flow due to blood clotting in the access. It is considered a major challenge and can be anticipated to hamper the market growth.
  • Concern for exposure to infections
  • Side-Effects associated with long-term usage

Vascular Access Device Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

10.10%

Base Year Market Size (2022)

 USD 6 Billion

Forecast Year Market Size (2035)

 USD 20 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Vascular Access Device Segmentation

End-user (Hospitals, Clinics, Ambulatory Care Centers)

The global vascular access device market is segmented and analyzed for demand and supply by end-user into hospitals, clinics, ambulatory care centers, and others. Amongst this end-user of the vascular access device, the hospital segment is estimated to gain the largest market share of about ~56% in the year 2035. The growth of the segment can be attributed to the widening patient demographics owing to the increasing prevalence of various diseases as well as a surge in the number of hospital admissions worldwide. For instance, as per the 22nd edition of the AHA Hospital Statistics report published by the American Hospital Association (AHA), the total number of admissions was recorded as 33,356,853 in all the hospitals across the nation in 2021.

Application (Administration of Drugs, Administration of Fluid, Transfusion of Blood Products, Diagnostics, Testing)

The global vascular access device market is also segmented and analyzed for demand and supply by application into the administration of drugs, administration of fluid & nutrition, transfusion of blood products, diagnostics & testing. Amongst these segments, the administration of drugs segment is expected to garner a significant share of around ~46% in the year 2035. For patients treated with systematic anti-cancer treatment, the completely implanted ports (PORTs) are safe and more effective than Hickman. Consequently, the segment's growth is supported by the availability of a wide range of vessels for access and their effectiveness in comparison with other devices. The expanding number of healthcare centers as well as the growing number of patients admitted to hospitals owing to the rapid widespread of many concerning diseases and severe health conditions are anticipated to boost the segment growth of the segment in the upcoming years.

Our in-depth analysis of the global market includes the following segments:

     By Type

  • Peripheral Intravenous Catheter (PIVC)
  • Peripherally Inserted Central Catheter (PICC)
  • Midline
  • Haemodialysis tunneled cuffed Central Venous Catheter (Htc-CVC)
  • Totally Implanted Venous Port Device
  • Central Venous Catheter (tc-CVC & nt-CVC)
  • Others

     By Application

  • Administration of Drugs
  • Administration of Fluid & Nutrition
  • Transfusion of Blood Products
  • Diagnostics & Testing
  • Others

     By End User

  • Hospitals
  • Clinics
  • Ambulatory Care Centers
  • Others

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Vascular Access Device Industry - Regional Synopsis

North American Market Forecast

The vascular access device market in North America is projected to be the largest with a share of about ~35% by the end of 2035. The growth of the market can be attributed majorly to the presence of a strong healthcare network as well as the increased footfall of patients together with the growing number of surgeries in the region with growing concern about several diseases. For instance, it is observed that in the United States alone, every year nearly 50 million surgeries are performed. Additionally, it is seen that every year over 600 000 coronary stents are implanted during percutaneous coronary interventions (PCIs) in the United States.

APAC Market Statistics

The Asia Pacific vascular access device market is estimated to be the second largest, registering a share of about ~24% by the end of 2035. The growth of the market can be attributed majorly to the growing technological advancements in the medical field as well as the rapidly expanding medical devices industry besides expanding the scope of medical tourism in the region. The aging of the population and increased public awareness about preventive health care are driving growth in this area. Major global firms are further expanding their presence in these emerging nations, with a view to exploiting the growing potential offered by China, Japan, India, and South Korea. Moreover, the rising prevalence of diabetes, hypertension, and other severe lifestyle disorders is leading to the vast pool of the population suffering from various cardiological, nephrological, and neurovascular disorders. This, as a result, is anticipated to boost the regional market growth.

Europe Market Forecast

Further, the vascular access device market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. There has been a rise in the acceptance of safety devices preventing needlestick injuries on the market. In particular, the market for PIVC and syringe and needle products that account for a substantial proportion of Europe's total vascular access market is affected by this trend. The constant research & development in the field of medical devices as well as the growing pool of patients admitted to hospitals in the region besides the increasing pool aging population is expected to boost the market growth in the region over the forecast years.

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Vascular Access Device Market Size
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Companies Dominating the Global Vascular Access Device Landscape

top-features-companies
    • B. Braun SE
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Becton, Dickinson, and Company
    • Teleflex Incorporated
    • Cook Group Incorporated
    • Medtronic
    • ICU Medical, Inc.
    • Medical Components, Inc.
    • Terumo Medical Corporation
    • Access Vascular, Inc.
    • Siemens Healthineers AG

In the News

  • BD (Becton, Dickinson, and Company), a leading global medical technology company, launched BD Prevue II System. It’s a new, easy-to-use advanced ultrasound device with a specialized probe designed to provide clinicians with optimal IV placement.
  • B. Braun SE and REVA Medical announced their strategic partnership for the distribution of Fantom Encore - a bioresorbable scaffold for coronary interventions, manufactured with REVA's patented material Tyrocore.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 4854
  • Published Date: Apr 28, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The rising prevalence of various types of diseases worldwide owing to which there is growth in the number of hospital admissions and surgical procedures are the major factors driving the market growth.

The market size of the vascular access device is anticipated to attain a CAGR of 10.10% over the forecast period, i.e., 2023-2035.

Concerns for exposure to infections as well as lack of long-term access assurance are estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are B. Braun SE, Becton, Dickinson, and Company, Teleflex Incorporated, Cook Group Incorporated, Medtronic, ICU Medical, Inc., Medical Components, Inc., Terumo Medical Corporation, Access Vascular, Inc., Siemens Healthineers AG.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity, and the new products being launched into the market by the company.

The market is segmented by type, application, end-user, and by region.

The hospital segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Vascular Access Device Market Report Scope
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